Joint Venture Expectations, page-6

Just looked at Mitsui's investing strategy:
"We are working to acquire materials and components businesses in response to structural changes in the industry brought about by the shift to electric vehicles."
source: page 076 in: mitsui.com/jp/en/ir/library/report/__icsFiles/afieldfile/2019/09/10/en_8_Chapter3_BusinessStructureStrategicApproach.pdf

When looking through all of Mitsui's investments listed in this strategy overview, one finds that Mitsui always has a share of the equity. So IMO that's what they will want here also.

Now Talga has already been in negotiations with Mitsui and LKAB for one year.
I am absolutely confident that MT is a tough negotiator and doesn't want to give away substantial equity to JV partners. But that's exactly what Mutsui and possibly LKAB want.
Also, while LKAB with its connections and expertise is a very important partner, I have difficulties to see the advantages of a JV with Mitsui. Sure, they have huge market power, but do we really need them when we are in product testing with 11 auto OEMs? Just asking, I don't know the answer.
Really excited to see the outcome of the negotiations by end of November.